Reliable financial reporting crucial to Nigeria’s economic stability – VP

Vice President Kashim Shettima has emphasized the critical role of reliable and transparent financial reporting in Nigeria's economic stability, stating that such reporting builds investor confidence and provides regulatory certainty for both domestic and international investors. The administration of President Bola Tinubu is committed to fostering durable governance structures that ensure long-term stability, asserting that financial reporting transcends mere accounting metrics and directly influences investment decisions and overall market resilience.

The Financial Reporting Council of Nigeria (FRC), which was established in 1982 and later transformed under the FRC Act No. 6 of 2011, plays a pivotal role as the primary regulator overseeing financial reporting, auditing, corporate governance, valuation, and actuarial standards across public interest entities in Nigeria.

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